K Adler, Martin, and Bramley have capital balances of $24,000, $36,000, and $60,000, respectively. The partners share profits and losses as follows: a. The first $50,000 is divided based on the partners' capital balances. b. The next $50,000 is based on service, shared equally by Adler and Bramley. Martin does not receive a salary allowance. c. The remainder is divided equally. Read the requirements Requirement 1. Compute each partner's share of the $121,000 net income for the year. (Complete all answer boxes. For amounts that are $0, make sure to enter "0" in the appropriate column.) Net income (loss) Capital allocation: Adler Martin Bramley Salary allowance: Adler Martin Bramley Total 121000 Adler, Martin, and Bramley have capital balances of $24,000, $36,000, and $60,000, respectively. The partners share profits and losses as follows: a. The first $50,000 is divided based on the partners' capital balances. b. The next $50,000 is based on service, shared equally by Adler and Bramley. Martin does not receive a salary allowance. c. The remainder is divided equally. Read the requirements. Salary allowance: Adler Martin Bramley Total salary and capital allocation Net income (loss) remaining for allocation Remainder shared equally: Adler Martin Bramley K Adler, Martin, and Bramley have capital balances of $24,000, $36,000, and $60,000, respectively. The partners share profits and losses as follows: a. The first $50,000 is divided based on the partners' capital balances. b. The next $50,000 is based on service, shared equally by Adler and Bramley. Martin does not receive a salary allowance. c. The remainder is divided equally. Read the requirements. Bramley Total salary and capital allocation Net income (loss) remaining for allocation Remainder shared equally: Adler Martin Bramley Total allocation Net income (loss) remaining for allocation Net income (loss) allocated to the partners b. The next $50,000 is based on service, shared equally by Adler and Bramley. Martin does not receive a salary allowance. c. The remainder is divided equally. Read th Requirements Br To 1. Compute each partner's share of the $121,000 net income for the year. 2. Journalize the closing entry to allocate net income for the year. Net in Rema Ad M Br Total Net income (loss) remaining for allocation Net income (loss) allocated to the partners Print Done - X